DigitalOcean one of the Top cloud service providers has agreed to acquire the leading Managed Cloud Hosting SaaS Platform Cloudways.
Cloudways was started ten years ago by Aaqib Gadit and his team with the mission of improve SMBs. One must say that Cloudways has helped more than 70000+ customers worldwide powering over 570000+ websites, Also Cloudways has a global team of 280+ employees.
Digitalocean popular cloud provider for developers, startups, and SMBs. Since 2014 Both Cloudways and DigitalOcean have been close partners, more than 50% of Cloudways customers rely on DigitalOcean infrastructure. Combining DigitalOcean and Cloudways will host over 124000 customers whose minimum plan is over $50 per month.
As per Aaqib Gadit, Co-founder and CEO of Cloudways “For now, Cloudways will remain a standalone business unit and continue to operate as usual under my lead, where we’ll continue to help agencies, developers, and SMBs as we have always done. Current Cloudways customers will see no changes to their services.“
The deal is expected to close in September, according to terms DigitalOcean will acquire Cloudways for $350 million in cash, a significant portion of which will be paid over a 30-months.